This year on Diwali, employed people can get great news. Actually, the government can soon transfer the interest amount to the account of PF account holders. For this, EPFO can soon announce to transfer interest for 2021-22 to the accounts of more than 6.5 crore customers.
EPF Interest: This year on Diwali, employed people can get great news. Actually, the government can soon transfer the interest amount to the account of PF account holders. For this, EPFO can soon announce to transfer interest for 2021-22 to the accounts of more than 6.5 crore customers. Explain that in 2021-22, EPFO will deposit interest at the rate of 8.1 percent in the account of its members. This amount will be directly deposited in your PF account.
This is how the calculation of interest happens:
Explain that there is a contribution of both the employee and the employer in the PF account. In this, 24% of the basic and Dearness Allowance (DA) together are deposited. But interest is not earned on the entire payment. Your PF gets deposited every month, while interest is accrued on an annual basis. According to the EPFO rules, if there is any withdrawal on the last date of the financial year, then 12 months interest is deducted after deducting it. EPFO always takes the opening and closing balance of the account and the monthly running balance is added accordingly.
If 10 lakhs are deposited in the account, then you will get this amount:
For the year 2021-22, money will be given on EPF at 8.1 interest rate. Accordingly, interest at the rate of 8.1 percent will be transferred on the amount deposited in the account of any PF account holders. Suppose you have one lakh rupees deposited in your PF account, then at the rate of 8.1 percent, you will get 8,100 rupees as interest annually. On the other hand, if the amount deposited in your PF account is 10 lakh rupees, then 81 thousand rupees will be transferred to your account as interest.
Check the amount deposited in your account like this:
– To check the amount deposited in your PF account, first of all go to the website of EPFO.
– Here in Our Services dropdown, select ‘For Employees For Employees’.
Then click on Member Passbook. Log in here by submitting your UAN number and password.
Now select your PF account. As soon as you open it, you will see the balance in front of you.
Apart from this, you can easily get the balance information in the account by sending a message.
For this, you have to type EPFOHO UAN ENG from your registered mobile number and send it to 7738299899. The last three characters of the message are for the language. If you want information in Hindi then you can send HIN.
You can also know the balance by missed call:
For this, you have to give a missed call to the phone number of EPFO from your registered mobile number. This service can be availed only when KYC is updated from your UAN. If KYC is updated, you can check the balance by missed call in the two steps mentioned below.
Give a missed call to 011-22901406 from your registered mobile number.
After making a missed call, you will get an SMS with your PF details, which will have complete balance details.
